As a plugged-in reader correctly reported last week, Millennium Partners losing bid for the parcel was $70 million while Golub had offered $49 million.

Related is working with architect Rem Koolhaas and the Office for Metropolitan Architecture (OMA) on the master plan and design for the tower to rise at Folsom and First, while Fougeron Architecture is designing the podium and mid-rise along Folsom and Fremont.

Tenderloin Neighborhood Development will partner with Related for the required affordable housing component of Block 8’s development, with 27 percent of the 740-ish units to be affordable to residents making 60 percent of the area median income.

A request for proposals to develop Transbay Block 8 was first issued back in 2008 but then cancelled in 2009 when when bids for the parcel came in “well below the potential value of the site in a healthier real estate market.” The cancelled request had targeted the development of 597 housing units on the site, nearly 20 percent fewer than today.

my how things change in 6 years. when the bid process was cancelled last time around for this block the bids were literally close to zero. Just goes to show that things may be very different six years from now.

UPDATE: The full Design Team for the Block 8 development is comprised of OMA (high-rise and master plan architect) and Fougeron Architecture (mid-rise and podium architect).
The rendering above features Fougeron’s podium in the foreground with OMA’s tower behind.

Love this post and especially how with a click we can see the previous post and previous comments. Especially the ones opining that the city was not smart to pull the whole thing and wait for conditions to better.
So dare I say it…did the city actually do something right? (yes, i know…lucky…but still!)